{"id":"W7118009343","doi":"10.1007/978-981-95-2844-8_5","title":"When Do Tokens Beat Equity? The Economics of Utility Tokens","year":2025,"lang":"en","type":"book-chapter","venue":"","topic":"Private Equity and Venture Capital","field":"Business, Management and Accounting","cited_by":0,"is_retracted":false,"has_abstract":false,"ca_institutions":"University of Toronto; McMaster University","funders":"","keywords":"Beat (acoustics); Investment management; Joint (building); Investment (military)","routes":{"ca_aff":true,"ca_fund":false,"ca_venue":false,"about_ca":false,"invisible_to_affiliation_only":false},"retraction":null,"screen":null,"direct_labels":[],"prediction":{"model_version":"metacan-v3-hybrid-931329e0061c","candidate_categories":[],"consensus_categories":[],"category_scores_codex":[0.001370431,0.0002855999,0.0005912495,0.0006553893,0.001222145,0.0079392,0.0008847282,0.003116198,0.0174856],"category_scores_gemma":[0.008920814,0.0005312402,0.000310015,0.001134144,0.006006046,0.01464811,0.001109282,0.002896657,0.001383021],"about_ca_system_candidate":false,"about_ca_system_consensus":false,"about_ca_system_score_codex":0.003495382,"about_ca_system_score_gemma":0.001175261,"about_ca_topic_candidate":false,"about_ca_topic_consensus":false,"about_ca_topic_score_codex":0.002785303,"about_ca_topic_score_gemma":0.003748805,"domain_scores_codex":[0.9991153,0.000386791,0.0000239634,0.0001039837,0.0002161648,0.0001537812],"domain_scores_gemma":[0.9966533,0.002427712,0.0003374642,0.0002062682,0.0002168027,0.0001585508],"domain_codex":null,"domain_gemma":null,"domain_candidate":null,"domain_consensus":null,"study_design_codex":"theoretical_or_conceptual","study_design_gemma":"theoretical_or_conceptual","study_design_scores_codex":[0.00002107159,0.000008046553,0.0001776494,0.00001216195,0.000003144393,0.00001924434,0.00007014652,0.0006511399,0.00003670558,0.9872681,0.005060443,0.006672049],"study_design_scores_gemma":[0.000007986223,0.000006166051,0.0002795433,0.00003384295,0.000003534853,0.00002022133,0.0001624262,0.001357235,0.0000613058,0.9844387,0.01362306,0.000005938447],"study_design_candidate":"theoretical_or_conceptual","study_design_consensus":"theoretical_or_conceptual","genre_codex":"other","genre_gemma":"empirical","genre_scores_codex":[0.07120091,0.02337786,0.05699344,0.061165,0.001108993,0.00007169567,0.000443792,0.0001323995,0.785506],"genre_scores_gemma":[0.9002178,0.006955845,0.002410905,0.002063987,0.001092696,0.00004764302,0.00005808634,0.00008671644,0.08706635],"genre_candidate":"empirical","genre_consensus":null,"teacher_disagreement_score":0.0174856,"threshold_uncertainty_score":0.0584951,"prediction_status":"machine_predicted_unvalidated"},"machine_scores":{"provisional":true,"baseline":true,"maturity_gate_passed":false,"score_opus":0.03482278743614836,"score_gpt":0.2340011665078257,"score_spread":0.1991783790716773,"validation_status":"score_only:v0-immature-baseline","note":"Baseline scores from an immature model (maturity gate not passed). Scores rank; they never assert a category."}}